{"id":383423,"date":"2010-03-03T09:10:16","date_gmt":"2010-03-03T14:10:16","guid":{"rendered":"http:\/\/greenenergyreporter.com\/?p=6723"},"modified":"2010-03-03T09:10:16","modified_gmt":"2010-03-03T14:10:16","slug":"canadian-solar-posts-q4-profit-of-14-9-million-shares-up-6-percent-in-early-trading","status":"publish","type":"post","link":"https:\/\/mereja.media\/index\/383423","title":{"rendered":"Canadian Solar Posts Q4 Profit of $14.9 Million; Shares Up 6 Percent in Early Trading"},"content":{"rendered":"

\"\"<\/p>\n

Canadian Solar announced<\/a> net income of $14.9 million, or 35 cents per share, on revenues of $287 million for the fourth quarter of 2009, in a rebound from 2008 that nonetheless fell short of estimates. Net income for 2009 was $53.1 million, or $1.41 per share, on revenues of $663.8 million.<\/p>\n

Canadian Solar shares (NASDAQ:CSIQ) were up $1.26, or 6.25 percent, to $21.49 at 9:48 a.m.<\/p>\n

The company had earlier reported<\/a> that its gross margins would be lower as a result of faulty equipment at the company\u2019s plant.<\/span><\/p>\n

Analysts expected earnings of 45 cents per share on revenue of $267 million, according to Reuters<\/a>.<\/p>\n

Canadian Solar Chief Executive Officer Dr. Shawn Qu said the company will grow shipments in 10 core countries in 2010 and said sales continue to recover. The company shipped 155.5 megawatts in the fourth quarter.<\/p>\n

Qu said:<\/p>\n

\n

In 2009 we rebounded from net revenues of $49.5 million in the first quarter to over $287.0 million in the fourth quarter; a record for both our quarterly revenue and shipments.<\/p>\n<\/blockquote>\n

Qu added that demand will be strong for 2010 with an improved cost structure in the second half of the year due to lower processing costs and increased internal cell capacity.<\/p>\n

Management said shipments are still expected to be in the 600-700 megawatt range for 2010.<\/p>\n

However, Barclays Analyst Vishal Shah noted in a preview of the earnings released yesterday that negative developments in the Czech market, where the grid operator recently stopped accepting solar permits, could affect the company\u2019s second half shipments.<\/p>\n

Canadian Solar has dominant market share in the Czech market.<\/p>\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Canadian Solar announced net income of $14.9 million, or 35 cents per share, on revenues of $287 million for the fourth quarter of 2009, in a rebound from 2008 that nonetheless fell short of estimates. Net income for 2009 was $53.1 million, or $1.41 per share, on revenues of $663.8 million. Canadian Solar shares (NASDAQ:CSIQ) […]<\/p>\n","protected":false},"author":854,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[7],"tags":[],"class_list":["post-383423","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/383423","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/users\/854"}],"replies":[{"embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/comments?post=383423"}],"version-history":[{"count":0,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/posts\/383423\/revisions"}],"wp:attachment":[{"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/media?parent=383423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/categories?post=383423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mereja.media\/index\/wp-json\/wp\/v2\/tags?post=383423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}